Walgreens Boots Alliance, Inc. (WBA) Given a $94.00 Price Target by Mizuho Analysts
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) has been given a $94.00 price target by investment analysts at Mizuho in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Mizuho’s price target suggests a potential upside of 39.69% from the stock’s current price.
Several other analysts have also issued reports on WBA. Needham & Company LLC reiterated a “buy” rating and issued a $94.00 target price on shares of Walgreens Boots Alliance in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. BidaskClub lowered shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Leerink Swann set a $86.00 target price on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Friday, July 7th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $97.00 target price on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. Walgreens Boots Alliance presently has a consensus rating of “Buy” and an average price target of $88.83.
Walgreens Boots Alliance (WBA) opened at 67.29 on Tuesday. The company’s 50 day moving average is $75.74 and its 200-day moving average is $79.85. The stock has a market cap of $72.01 billion, a PE ratio of 16.99 and a beta of 1.25. Walgreens Boots Alliance has a 1-year low of $66.92 and a 1-year high of $88.00.
Walgreens Boots Alliance declared that its Board of Directors has approved a share repurchase program on Thursday, June 29th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the pharmacy operator to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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A number of hedge funds have recently modified their holdings of WBA. Waldron LP raised its stake in Walgreens Boots Alliance by 67.7% during the first quarter. Waldron LP now owns 4,500 shares of the pharmacy operator’s stock worth $373,000 after purchasing an additional 1,816 shares during the period. Harbour Investment Management LLC purchased a new position in Walgreens Boots Alliance during the first quarter worth about $3,694,000. Clean Yield Group raised its stake in Walgreens Boots Alliance by 12.7% during the first quarter. Clean Yield Group now owns 5,128 shares of the pharmacy operator’s stock worth $426,000 after purchasing an additional 578 shares during the period. Xact Kapitalforvaltning AB raised its stake in Walgreens Boots Alliance by 9.7% during the first quarter. Xact Kapitalforvaltning AB now owns 160,713 shares of the pharmacy operator’s stock worth $13,347,000 after purchasing an additional 14,218 shares during the period. Finally, MUFG Americas Holdings Corp raised its stake in Walgreens Boots Alliance by 0.8% during the first quarter. MUFG Americas Holdings Corp now owns 156,921 shares of the pharmacy operator’s stock worth $13,033,000 after purchasing an additional 1,192 shares during the period. 60.19% of the stock is currently owned by institutional investors.
About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).
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